China's Exports Surge 8.7% in August in U.S. Dollar Terms, Fastest Pace in Nearly 1.5 Years

Sep 10, 2024, 05:59 AM

China's exports grew by 8.7% year-on-year in August in U.S. dollar terms, surpassing analyst expectations of a 6.6% increase. This marks the fastest pace of export growth in nearly one-and-a-half years since March 2023. The rise in exports comes amidst ongoing trade tensions with the United States and other trade partners. Despite the export surge, China's imports were flat, missing forecasts for a 6.6% rise, due to weak domestic demand. The overall trade surplus for August reached $91 billion. This unexpected boost in exports provides some relief for an economy struggling with deflationary pressures.